Historical Overview of Crypto Mergers and Acquisitions

Since 2013, the merger and acquisition (M&A) sector has witnessed significant growth, with 88% of the deals occurring in the last five years. Meanwhile, 2021 saw the maximum consolidation across categories in the digital asset sector, showcasing a record 233 transactions. NFTs/Gaming witnessed record consolidation in 2022 with 39 deals, 23 more than in 2021.

More mature categories like CFS, Infrastructure, and Trading/Brokerage observed higher consolidation than the rest of the categories. These three categories accounted for 61% of the total M&A deals. In 2022, 86% of the documented amount transacted was attributed to the categories mentioned above. Infrastructure consolidations dropped from 69 to 23 YoY in 2022.